Europe: Stocks open lower as US rate cut disappoints

[LONDON] European stock markets opened lower Thursday, finding no support in the US central bank's widely expected interest rate cut, dealers said.

They said the quarter point reduction and the US Federal Reserve's non-committal stance on what comes next disappointed investors - and US President Donald Trump - who had been hoping for more.

A weaker performance on Wall Street and Asian markets overnight added to the downbeat tone.

In early deals, London's FTSE 100 index lost 0.8 per cent; in Paris, the CAC-40 dropped 0.3 per cent and in Frankfurt, the DAX was down 0.4 per cent.

AFP